Hasbro’s second quarter revenues for 2019 increased 9% to $984.5 million beating market expectations. Operating profit increased 47% to $128.3 million or 13.0% of revenues.
Hasbro’s total gaming, including all digital and tabletop gaming revenue, most notably Magic: The Gathering and Monopoly, totaled $393.4 million for the second quarter 2019, up 26%, versus $312.8 million for the second quarter 2018.
Hasbro’s Franchise Brands category, including Magic: The Gathering, Monopoly and Play-Doh increased 14% to $576.7 million. The company said Wizards of the Coast digital gaming revenues were $10.9 million with an operating profit of $3.1 million.
The Hasbro Gaming category, minus franchise brands like Magic: The Gathering, declined 8% to $123.4 million. Winners in the category included Dungeons & Dragons, Yahtzee and Connect 4, while the company saw declines in Pie Face and Duel Masters.
“We delivered a high-quality second quarter, with positive consumer trends at retail and profitable growth led by several geographies and brand categories,” said Brian Goldner, Hasbro’s chairman and chief executive officer.
Hasbro paid $85.6 million in cash dividends to shareholders during the second quarter 2019. The next quarterly cash dividend payment of $0.68 per common share is scheduled for August 15, 2019 to shareholders of record at the close of business on August 1, 2019.